Comments on: Decisive euro action is needed at the G20 summit http://blogs.reuters.com/great-debate/2012/06/15/decisive-euro-action-is-needed-at-the-g20-summit/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: cornilleau sport 500m http://blogs.reuters.com/great-debate/2012/06/15/decisive-euro-action-is-needed-at-the-g20-summit/#comment-598266 Tue, 24 Mar 2015 07:07:58 +0000 http://blogs.reuters.com/great-debate/?p=13158#comment-598266 38548 983016A thoughtful insight and ideas I will use on my website. Youve obviously spent some time on this. Congratulations! 952456

]]>
By: KFZ Versicherung wechseln http://blogs.reuters.com/great-debate/2012/06/15/decisive-euro-action-is-needed-at-the-g20-summit/#comment-99578 Tue, 25 Nov 2014 07:57:00 +0000 http://blogs.reuters.com/great-debate/?p=13158#comment-99578 Thank you ever so for you post.Really looking forward to read more. Want more.

]]>
By: buy facebook fans http://blogs.reuters.com/great-debate/2012/06/15/decisive-euro-action-is-needed-at-the-g20-summit/#comment-95742 Sun, 26 Oct 2014 17:03:01 +0000 http://blogs.reuters.com/great-debate/?p=13158#comment-95742 Cheers with the brilliant content contained throughout your web blog, what follows is usually a small test for the blog viewers. Who actually proclaimed the following quote? . . . .Speak softly and carry a big stick; you’ll go far.

]]>
By: buy fifa 15 coins http://blogs.reuters.com/great-debate/2012/06/15/decisive-euro-action-is-needed-at-the-g20-summit/#comment-92905 Thu, 25 Sep 2014 20:28:14 +0000 http://blogs.reuters.com/great-debate/?p=13158#comment-92905 Info Corp.Is the reason he sends the most important fees the actual national football league, Spending typically $725 million a year for your legal protection under the law to the nation’s hockey management meeting. That get to typically $1.1 thousand single season using the new package. Sibel will pay you distinct because the nation’s nfl achieving is complete with alot of competitors in good trading sells making use of rhode island, Philadelphia, Chi town as well california..

]]>
By: barry66 http://blogs.reuters.com/great-debate/2012/06/15/decisive-euro-action-is-needed-at-the-g20-summit/#comment-47176 Tue, 19 Jun 2012 10:38:10 +0000 http://blogs.reuters.com/great-debate/?p=13158#comment-47176 Why does Reuters still give a mouth piece to this deluded and incompetent ex chancellor / pnoney PM(never elected PM?)
He was a main culprit at the scene of the crime that is now the banking crisis.

]]>
By: bjhb http://blogs.reuters.com/great-debate/2012/06/15/decisive-euro-action-is-needed-at-the-g20-summit/#comment-47122 Mon, 18 Jun 2012 20:30:37 +0000 http://blogs.reuters.com/great-debate/?p=13158#comment-47122 I am not sure why you are even reporting comments by Gordon Brown, we have all been there and done it, and he dose not know what he is talking about

]]>
By: Maunsell http://blogs.reuters.com/great-debate/2012/06/15/decisive-euro-action-is-needed-at-the-g20-summit/#comment-47112 Mon, 18 Jun 2012 07:52:30 +0000 http://blogs.reuters.com/great-debate/?p=13158#comment-47112 A couple of basics about real CAPITALISM

1. If a private sector entity can’t pay its bill when
they fall due it is insolvent and should be resolved
or liquidated
2. An industry that pollutes (i.e. transfers costs and
lossses onto taxpayers and society)should have to
pay for the cost of its effluent and/or have its
activities curtailed.

The Greenspan/Bernanke/Geithner doctrine of the last 15 -20 years has been to continously bail out the financial sector, in effect transferring the latters losses/costs onto society and taxpayers (usually via the central bank backdoor).

Angela Merkel realises better than most that the costs of this doctrine has reached its limits(one just has to look at government debt levels in Japan, UK, USA, Ireland, Spain) and that we need to change course.

Cries by the financial sector for yet more bailouts (via central banks) will eventually lead to even greater debt burdens on society and a substantial loss in value in fiat money and destruction of REAL WEALTH.

We can start changing this by
1. Allowing financial sector participants who invest in
insolvent banks or in sovereigns that can’t pay their
debts to take their losses (either up front or by
requiring the financial sector to pay for the related
losses over a number of years via a financial
transaction tax)
2. Having a proper bank resolution regime and the will
to use it. Sheila Bair at the FDIC and the Iceland
government showed that this can still de done.

3. Requiring banks to increase their capital, liquidity
and term funding levels substantially so that if
losses do occur they are borne by bank shareholders
first. Regulators need to restrict cash dividends,
cash bonuses and share buybacks until a solid capital
base is achieved.

4. Large banks need to be broken up to minimise the
costs to society should they fail.

5. Banks now treat central banks as 24/7 providers of
liquidity – bank wholesale debt providers were
willing to provide finance to banks at 3O times
leverage because they took it for granted that
Central banks would bail them out if required.
Central banks need to impose much more conditionality
on their funding (other than just pure collateral) –
eg they should be able to set restrictions around
dividends, bonuses,and share buybacks etc and mandate
disposals/breakups where required.

Re Mr Brown comments, the simple reason that many wholesale investor won’t provide certain EU banks with funding is that they think they have’nt got enough capital – these banks are easy to identify – they are the ones that the ECB has had to provide LTRO funding to -to fix this problem just get the ECB to convert its LTRO funding into equity in effect performing a large scale bank recapitalisation in one swoop.

Secondly if the G20 is serious about sorting out Europe sovereign debt issues then just get the G20 to agree to a worldwide financial transactioon tax. The EU could then transfer a sizeable portion of EU peripheral debt into one resolution fund and use their share of the financial transaction tax to pay it down over time.

]]>
By: bjhb http://blogs.reuters.com/great-debate/2012/06/15/decisive-euro-action-is-needed-at-the-g20-summit/#comment-47101 Sun, 17 Jun 2012 18:07:50 +0000 http://blogs.reuters.com/great-debate/?p=13158#comment-47101 Take no notice off what Gordon Brown is saying we have all been there and we are all bust

]]>
By: chrisb1959 http://blogs.reuters.com/great-debate/2012/06/15/decisive-euro-action-is-needed-at-the-g20-summit/#comment-47064 Sun, 17 Jun 2012 10:41:12 +0000 http://blogs.reuters.com/great-debate/?p=13158#comment-47064 What the world needs more than anything else are policies to stimulate economic growth. What seems to be causing a lot of the problems in the Eurozone is too much austerity as this goes contrary to creating growth. Here I blame Germany’s Angela Merkel for insisting that the austerity route is the best way forward. This attitide is driven by what happened to Germany in 1923 with hyperinflation. However, when there is economic growth it then becomes easier to clear one’s debt.

Gordon Brown states “Austerity means decreasing economic activity and then an ebbing of confidence” – he is 100% correct there. World leaders must take note of this and listen to the likes of Fran├žois Hollande.

]]>
By: kchopra http://blogs.reuters.com/great-debate/2012/06/15/decisive-euro-action-is-needed-at-the-g20-summit/#comment-47062 Sun, 17 Jun 2012 09:42:11 +0000 http://blogs.reuters.com/great-debate/?p=13158#comment-47062 Investors the world over aren’t sure that the profits generated in the India can be easily and securely repatriated through normal banking channels. G20 meeting should address this simple question: in return for a gauranteed investment in the infrastructural projects in India, can India gaurantee the returns of investments? Indians can be asked to provide all manpower for the security needs the world over, plus contribute software services in return as payment on infrastructural investments in India. Additionally, Indians need to gaurantee export of food grains/rice at a mutually arrived figure. That way, growth environment can be generated the world over.

]]>